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Treasury yields move higher as investors await economic data
At 2:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8285%, while the yield on the 30-year Treasury bond was also higher at around 2.2972%.Market focus is largely attuned to economic data, after China reported on Friday that its economy expanded by 6.1% in 2019, even amid…
At 2:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8285%, while the yield on the 30-year Treasury bond was also higher at around 2.2972%.
Market focus is largely attuned to economic data, after China reported on Friday that its economy expanded by 6.1% in 2019, even amid a trade dispute with the U.S.
Analysts polled by Reuters had expected the world's second-largest economy to have grown 6.1% in 2019, compared with 6.6% in 2018.
It should be noted that although Beijing's official gross domestic product (GDP) figures are tracked as an indicator of economic health, many external observers have long expressed skepticism about the veracity of China's reports.
Stateside, housing starts and building permits for December will both be released at 8:30 a.m. ET.
Industrial production figures for December, capacity utilization data for December, a preliminary reading of consumer sentiment for January and job vacancies data for November will all follow slightly later in the session.
Philadelphia Fed President Patrick Harker and Fed Vice Chair Randal Quarles will also comment on the world's largest economy at separate events.
There are no major U.S. Treasury auctions scheduled on Friday.
— CNBC's Huileng Tan contributed to this report.
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